“Do I still need an accountant?”
That’s a question many business owners are currently asking:
The big software providers are incorporating so much AI into their products and it’s easier than ever for non-accountants to track expenses, handle invoices and VAT returns and do basic financial reporting.
As an accountant, you know that there’s a lot more to it than that.
But do your clients?
They may be thinking they could save some money by managing their finances themselves.
And what about those business owners who haven’t even looked for an accountant because they think they don’t need one?
The reality is that the tasks that software can handle are only going to increase. Unless you can demonstrate the value you bring, those business owners are right. They don’t need you.
But…
Software can’t give strategic advice or interpret the numbers it produces. It can’t reassure the business owner that they’re doing things right – or point out when they’ve made a mistake that could incur penalties.
Above all, software can’t sit down and talk, human to human, and uncover what someone really wants for their business. And then help them achieve it.
If you want to stay relevant you have to show clients and potential clients that you add genuine value.
If you aren’t doing that, maybe they really don’t need you.
How to make “Do I still need an accountant?” questions irrelevant
The thing about value is that it means different things to different people.
So just telling a client that, for example, you’ve filed their accounts and tax returns on time and avoided any penalties, may not mean very much. In fact, isn’t that the minimum they expect from you?
The key is to identify what’s important to them and demonstrate how you add value in that area.
And it doesn’t have to be financial value. Many business owners would be delighted if you could save them time or reduce their stress levels. Or both!
So how do you know what’s important?
Simply talk to your clients.
I know many accountants would rather stick forks in their eyes than talk to a client about something other than the numbers.
But how else will you find out where they want their business to go and the pain points that are stopping them getting there?
How else will you know what you can offer that they will genuinely value – and therefore pay for?
If your clients can’t see your value, they’ll go elsewhere – or stop using an accountant altogether.
The accountants who’ll win in this ever-evolving world are those that change as business needs change. Make sure you’re one of them.
If you want to do more for your clients but you don’t feel confident having that kind of conversation, take a look at Profit Improvement Certification. We’ll show how to use your existing skills with numbers in a way that feels natural and non-salesy. Find out more here: https://www.profitimprovementaccountant.global/